MARK BARRAND Allegedly Misrepresented Investments

Investors have disputed the sales practices of securities broker Mark Barrand (CRD#: 4586528, Lone Tree, Colorado). Namely, the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report for Mark Barrand shows that at least five investors filed “customer disputes” about him. These disputes, summarized below, suggest that Barrand sold unsuitable and misrepresented investments, among other things:

Cetera Advisors LLC Client Alleges Mark Barrand Committed Fraud


A client of Cetera Advisors LLC (Mark Barrand’s employer from 2004 to 2016) filed an investment dispute on February 13, 2019. Primarily, the client claimed that Barrand did not do proper due diligence on DPP and LP interests. Secondly, Barrand allegedly sold the client an unsuitable investment. Third, the client claimed to be a victim of Barrand’s fraudulent activities. Fourth, Barrand supposedly failed to make recommendations of investments that served the client’s interest. Instead, Barrand was supposedly negligent when dealing with the customer. Because of this, the client demanded up to approximately $500,000 in compensatory relief in this ongoing matter.

Cetera Client Files Complaint Suggesting Barrand Sold Unsuitable DPP or LP Interests


A second complaint comes from a Cetera Advisors LLC client who filed a dispute with the firm August 2, 2018. Notably, the client alleged that Mark Barrand sold unsuitable investments to the customer. Those investments were apparently in direct participation programs or limited partnerships. Because of this, the client brought a claim for compensation. However, this matter was denied September 26, 2018.

Ameriprise Client Alleges Barrand Misrepresented Annuities and UITs


Next, we have an Ameriprise Financial Services client who filed a complaint on January 11, 2018 regarding Mark Barrand. Allegedly, Barrand misrepresented information about variable annuities and unit investment trusts that he sold the client. Supposedly, Barrand’s misrepresentations caused the client to buy investments that the client would not have otherwise purchased. As a result, the client alleged $138,500 in losses. However, Ameriprise denied the client’s claim on January 30, 2018.

Legacy Financial Services Client Files Dispute Alleging Barrand’s Negligence


Additionally, a client of Legacy Financial Services disputed Mark Barrand’s sales practices by filing FINRA Arbitration #:09-01904. Apparently, Barrand misrepresented a variable annuity that he sold to the client. Secondly, the client claimed that Barrand committed a breach of a fiduciary duty. Also, Barrand allegedly failed to act responsibility with the client’s investments. Finally, the client claimed that Barrand committed violations of securities regulations. Because of this, Barrand paid the client $20,000 in order to settle the dispute.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Have you experienced losses by investing with Ameriprise Financial Services securities broker Mark Barrand? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.